Cluno, a startup operating out of Munich that offers what it calls a “car subscription” service, has raised €7 million in Series A funding. The round was led by Acton Capital Partners, with participation from previous investor Atlantic Labs.

Founded in 2017 by the same team behind easyautosale, which exited to Autoscout24 in 2015, Cluno lets you subscribe to a car for a fixed and all-inclusive monthly fee as an alternative to car ownership or a more restrictive lease. It’s a similar...